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Tesla Sales Surge to Record on Rush to Snag US Tax Credit
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October 2, 2025
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6:02Now PlayingEd Ludlow, host of Bloomberg Tech, discusses Tesla's surprise increase in quarterly vehicle sales, as US consumers accelerated electric-car purchases before federal tax credits expired.
The company delivered a record 497,099 vehicles worldwide during the period, up 7.4% from a year ago. That compares with the roughly 439,600 average projection compiled by Bloomberg.
Tesla has sought to revive its core automotive business, which languished for several quarters under the weight of an aging lineup, rising competition and the elimination of US policies supporting the EV market. The company also faced a consumer backlash to Chief Executive Officer Elon Musk’s politics as he worked closely with President Donald Trump early this year.
Investors recently looked past Tesla’s first-half sales weakness to Musk’s promises of growth in areas such as driverless vehicles, artificial intelligence and robotics. The carmaker’s shares soared 33% in September, recouping early-year losses and adding $401.9 billion of market capitalization.
The stock rose 1% as of 9:39 a.m. Thursday in New York and is now up about 15% this year.
EV sales in the US got a temporary boost from the impending end of an up to $7,500 federal tax credit. The phasing out of that purchase incentive after Sept. 30 helped drive soaring demand for General Motors Co., Ford Motor Co. and Hyundai Motor Co. models.
Tesla’s deliveries tally offers a preview of the earnings results the company will report Oct. 22. Next month the automaker will hold its annual general meeting, where investors will vote on a new compensation package for Musk potentially worth $1 trillion.
Read More: Tesla’s Soaring Stock Puts Focus on Sales Outlook in Robot Shift
Tesla, which reports a combined sales total for the Model 3 and Model Y, delivered 481,166 of those sedans and SUVs, up 9.4% from a year ago. Sales of other vehicles — the Model X, Model S and Cybertruck — fell 30%.
The company also reported that it deployed 12.5 gigawatt hours of energy products during the quarter, up from 6.9 GWh a year ago. The company unveiled a next-generation energy-storage system during the quarter, along with a new product called Megablock that combines storage units with a transformer and switchgear.
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